Downtown Vegas is Rocking!

when April’s numbers came out last week, it was downtown’s revenues that raised more than a few eyebrows. Downtown’s casinos raked in more than $48 million, a nearly 25 percent jump over April 2011.

If you follow any Las Vegas blogs you have had to notice a shift of news from the strip to downtown. Besides The Linq, there’s not much exciting being built on the strip. Downtown Vegas is another story. There has been non-stop rejuvenation over the past few years. Right now major hotel renovations are happening at Golden Gate and the D, which used to be Fitzgeralds.

While the strip shuns gamblers to attract people looking to drop $1,000 on a bottle of Grey Goose, the gamblers are heading downtown to be with other gamblers. And the hipsters are heading to the cool Fremont Street Bars.

I love the strip, but I’ve been spending more and more time downtown. It’s much more relaxed downtown. It feels fine to eat pancakes at DuPar’s for every meal when I’m staying downtown. When I’m on the strip I, almost, feel forced to enjoy a more upscale meal and stay.

Both are great and both are different but not everyone can afford the upscale prices. This separation has always been in Vegas, but with downtown being not being a dump any longer it’s a real viable option for many.

While downtown probably shouldn’t expect 25% gaming revenue increases every month, they should expect that growth to continue while the strip continues to shun gamblers.

“While the strip shuns gamblers to attract people looking to drop $1,000 on a bottle of Grey Goose” — this is misleading. Perhaps, “shuns green chips players” etc. I know many “decent” players who feel they are better taken care of at properties such as Wynncore than anywhere else in the country. I do agree, the strip is really now meant for bigger players; but really anyone with strong black-chip action gets very decent comp value in Vegas. Remember, it’s 2012, $25 average bets are not going to get you very far. And, if you run it — “by the numbers” even a generous house is not really going to give you much. Alternatively, marketing machines that are present now (aka CET) give smaller players incredible “bang for the buck” with regard to free room offers. And, as we know, the room $ versus value is a much bigger factor now than it was in 1982. The Vegas strip is still a “comp-value” for everyone in comparison to markets like Indiana, PA, Ohio, etc. etc. etc.